On Monday, Caesars Entrainment Corp., which runs casinos across the U.S., reported that they had made a loss of $466.4 million in second-quarter of 2014, compared with a prior-year loss of $212.2 million.
The casino operator said that strong Las Vegas results were offset by continuing weakness in Atlantic City and regional markets. Caesars has not posted a single profit since 2009 and has more [...] Read more » Caesars Reports Loss of $466.4 Million For Second Quarter
Joined: Mar '11
Location: United Kingdom
Age: 55 (M)
Posts: 7371
This is an incredible amount of money to be losing every year and it is baffling how they can stay in buisness while suffering such huge losses. Never thought casino's could lose so much
Joined: May '08
Location: Germany
Age: 59 (M)
Posts: 6786
No profit since 2009? That are 5 full years. Outsch. And when one looks at the data in the article, the losses are getting bigger. That doesn't look good. The downturn of 2008 has robbed to many people of the money necessary for gambling.
Joined: May '13
Location: Mauritius
Age: 32 (M)
Posts: 2688
Holy s**t, casinos losing this is new to me, they should have the edge in the games and no wonder how they got into loss, they might be just being wrongly managed giving too much credits and then not being able to recover that credit from bad clients. Anyway i like it that casinos are making a loss, because they deserve it they are here to make punters happy hehe. Cheers for the news brighten my day. We all hate casinos when they win right?
Joined: May '08
Location: Lithuania
Age: 39 (M)
Posts: 10090
lol yeah they are bleeding cash big time, deffo need to change sth and find some extra sources of income. @Heskor- casinos still do have an edge in all games and will have it as long as gambling exists, however they do have high running costs and loans to pay up and the amount that they are making from gamblers doesn't cover the expenses at the moment... to put it simply- not enough people are playing and this especially goes to the high rollers
Joined: Feb '12
Location: Canada
Age: 64 (M)
Posts: 6036
Wow,....Big losses.... but take into account all the years in the money...! I don't think they'll be going bankrupt anytime soon,...!
....and don't worry folks,....if the whole thing DOES go belly up,...you can rest assured that the top executives, and the major shareholders will make off with HANDSOME sums of L@@T...!
NObody's gonna starve here,...unless YOUR involvement with the corporation involves wearing a name tag,....
I'm curious how handle online poker rooms. Maybe some of players prefer play in their own house drinking beer and eat pickled cucumbers than go to casino.
Joined: Mar '09
Location: Portugal
Age: 57 (M)
Posts: 1703
Man now I known that the world is near the end Casinos losing money? And for five years in a row! Maybe the tradition is changing and the house doesn´t always wins Still crying over there loss Like every thing at gambling they are on a slump
Posted by av1966: Man now I known that the world is near the end Casinos losing money? And for five years in a row! Maybe the tradition is changing and the house doesn't always wins Still crying over there loss Like every thing at gambling they are on a slump
lol was thinking the same , maybe changing the house win (Important except players from ceasar
We all hate casinos when they win right?
